Auto loan delinquencies have hit a record low. The second quarter of 2012 saw the delinquency rate, the percentage of buyers more than 60 days past due on their car loans, drop to just 0.33%, 25% lower than the second quarter of 2011 and the lowest since TransUnion began tracking delinquencies in 1999.

The auto industry is in good shape this year, in addition to the lowest delinquency rate sales are up 14% this year compared to last.Experts at TranUnion say that the surge in sales is likely due to creditors relaxing their requirements for loans.Buyers with lower credit scores can find financing much more easily in 2012 than in years past.

"We are at such a low delinquency level that a slight rise through the end of the year should be expected, though the overall rate will remain relatively low," Peter Tureck, automotive vice president for TransUnion’s financial services business wing said. Even if delinquency rates return to the first quarter of 2012’s level, 0.36%, it will still be a very low rate, and creditors should still be happy to lend to people with imperfect credit.